Caisse d Amortissement de la Dette Sociale
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The Swiss National Bank’s shock decision to unpeg its currency from the euro on Thursday morning made selling a new May 2023 bond a tougher than normal task for Caisse d'Amortissement de la Dette Sociale, although the deal still hit full subscription, according to one of the leads. With the European Central Bank expected to announce sovereign quantitative easing next week, the window for eurozone issuers to print is getting smaller — although a new agency is known to be looking.
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Caisse d'Amortissement de la Dette Sociale took a lead from the European Financial Stability Facility on Wednesday, mandating banks for a novel eight year deal. The announcement came the same day as the French agency unveiled its funding target for 2015.
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A supranational and an agency nipped in to print tightly priced taps of euro-denominated debt this week.
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Caisse d’Amortissement de la Dette Sociale printed a €500m tap of a short-dated note at a skinny spread over its sovereign on Thursday.
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A French agency is set to join the European Union in tapping an outstanding euro benchmark this week, after mandating a bank for a deal late on Wednesday afternoon.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Caisse d’Amortissement de la Dette Sociale on Tuesday sold its largest ever 10 year euro deal, buoyed by a sell-off in rates that morning. Investors piled into the deal, eager to get a piece of core eurozone SSA paper paying a double digit spread over mid-swaps.
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Caisse d’Amortissement de la Dette Sociale is the first issuer to mandate in euros after the European Central Bank slashed its main refinancing rate and deposit rate by 10bp last week. The agency is looking to sell a 10 year deal, which is expected to attract strong demand despite the outright yield looking set to fall below 1.4%, as the deal has rarity value. It is Cades’s first benchmark size appearance in that part of the curve since last year.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.